TCB Bank and Makazi Solution Limited have partnered to enable Tanzanians to purchase surveyed plots through instalment payments, addressing barriers to land ownership and housing access. The partnership was announced in Dar es Salaam and aims to tackle challenges citizens face when acquiring property in properly planned areas with adequate infrastructure.
The Deputy Minister for Finance, Engineer Msham Munde, welcomed the initiative as a chance for citizens to access land developed according to proper planning requirements. He said the partnership reflects the government's commitment to strengthening private sector involvement in housing development, a sector he described as critical to improving living standards. Munde noted that many Tanzanians currently face difficulties building in unplanned areas and encounter land use and ownership problems. He pledged that the Ministry of Finance would continue partnering with the private sector to address these challenges.
Makazi Solution Limited, which has more than 15 years of experience, has struggled with the significant costs involved in preparing and developing residential areas. Director Suleiman Pazi said the TCB agreement represents an important step toward a system allowing citizens to purchase plots without paying the entire cost upfront. The company is promoting land investment opportunities across several areas, including Tanga, Pangani and Kipumbwi, citing geographical advantages and anticipated infrastructure improvements.
Pazi urged TCB to expand the partnership beyond providing loans to plot buyers by also financing the acquisition and purchase of land for planned residential development. Such an arrangement, he said, could reduce land preparation costs and increase the availability of officially surveyed plots. He noted that developing planned residential areas could boost government and local authority revenue through land taxes, building permits and fees linked to formal land use, connecting housing access with investment opportunities and a broader public revenue base.
Francis Kaaya, Acting Director of Small and Medium Customer Business at TCB, said the bank was ready to support citizens in acquiring land and achieving their housing aspirations. He invited individuals and businesses interested in purchasing plots to visit TCB branches nationwide for information about available financing services. Both partners expressed confidence that the initiative would encourage planned residential development, reduce unplanned construction and help more Tanzanians own plots and homes.